Product ID: UCMIG45A2100
Report ID: UCMIG45A2100 | Region: Global | Published Date: Upcoming | Pages: 165 | Tables: 55 | Figures: 60
The global tenant billing software market, which reached a valuation of USD 293.22 million in 2019, is poised for substantial expansion with a projected compound annual growth rate (CAGR) of 8.4% throughout the forecast period. This optimistic growth trajectory can be attributed to the escalating integration of smart grid technology within the tenant billing framework. As the adoption of smart grid technology gains momentum, it is expected to revolutionize the tenant billing process, leading to heightened efficiency and accuracy in cost allocation. Consequently, this transformative shift is anticipated to stimulate incremental growth in the market in the coming years. This evolution reflects the industry's responsiveness to technological advancements, underscoring a promising future for tenant billing software.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Internet Software & Services by segment aggregation, the contribution of the Internet Software & Services in Software & Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
The Tenant Billing Software Market is segmented by Deployment (Revenue, USD Million, 2016 - 2027), Application (Revenue, USD Million, 2016 - 2027), Regional (Revenue, USD Million, 2016 - 2027). We are analyzing the market of these segments to identify which segment is the largest now and in the future, which segment has the highest growth rate, and the segment which offers the opportunity in the future.
Tenant Billing Software Market is being analyzed by North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA) regions. Key countries including the U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, and South Africa among others were analyzed considering various micro and macro trends.
SkyQuest's expert analysts have conducted a risk analysis to understand the impact of external extremities on Tenant Billing Software Market. We analyzed how geopolitical influence, natural disasters, climate change, legal scenario, economic impact, trade & economic policies, social & ethnic concerns, and demographic changes might affect Tenant Billing Software Market's supply chain, distribution, and total revenue growth.
To understand the competitive landscape, we are analyzing key Tenant Billing Software Market vendors in the market. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the Tenant Billing Software Market.
To validate our hypothesis and validate our findings on the market ecosystem, we are also conducting a detailed porter's five forces analysis. Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry each force is analyzed by various parameters governing those forces.
The Tenant Billing Software Market is being analyzed by SkyQuest's analysts with the help of 20+ scheduled Primary interviews from both the demand and supply sides. We have already invested more than 250 hours on this report and are still refining our date to provide authenticated data to your readers and clients. Exhaustive primary and secondary research is conducted to collect information on the market, peer market, and parent market.
Our cross-industry experts and revenue-impact consultants at SkyQuest enable our clients to convert market intelligence into actionable, quantifiable results through personalized engagement.
|The base year for estimation
|2016 – 2022
|2022 – 2028
|Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis
|North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
|U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, South Africa
|Key companies profiled
|Free report customization (15% Free customization) with purchase. Addition or alteration to country, regional & segment scope.
|Pricing and purchase options
|Reap the benefits of customized purchase options to fit your specific research requirements.
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Tenant Billing Software Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Tenant Billing Software Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Tenant Billing Software Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Tenant Billing Software Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
The global market for Tenant Billing Software was estimated to be valued at US$ XX Mn in 2021.
The global Tenant Billing Software Market is estimated to grow at a CAGR of XX% by 2028.
The global Tenant Billing Software Market is segmented on the basis of Deployment (Revenue, USD Million, 2016 - 2027), Application (Revenue, USD Million, 2016 - 2027), Regional (Revenue, USD Million, 2016 - 2027).
Based on region, the global Tenant Billing Software Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
The key players operating in the global Tenant Billing Software Market are rview , The global tenant billing software market size was valued at USD 293.22 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 8.4% over the forecast period. The market is expected to witness incremental growth in the forthcoming years owing to the increasing adoption of smart grid technology in the tenant billing process. , The tenant billing software helps organizations to split up utility costs between tenants, departments or cost centers. The software is ideal for organizations that manage or own numerous properties, including airports, residential housing, service stations, retail parks, and ports. , In recent years, tenant billing techniques have been shifted from manual to automatic billing techniques. This automatic technique has improved the tenant billing system, thereby decreasing human involvement for meter readings or invoice creation. An automatic billing software operates through cloud-connected meters to gather consumption data and further use that data to send bills without the engagement of individuals for invoice creation or meter readings. Whereas, manual tenant billing practice comprises individuals going to tenants and recording the utility usage for each month. This manual process is slow, inefficient and prone to errors. Thus, the tenant billing software was established to evade the errors and streamline the work through automation. , Introduction of automatic tenant metering is the key factor fueling market growth. Automatic tenant meter provides real-time data of tenant’s utility consumption and avoids inaccuracies and unfairness of dividing costs across tenants by floor area. Furthermore, it reduces the cost of manpower, which is comparatively high in manual readings. Besides, it helps to assess an occupant’s bill instantly from any desired place via mobile application. Thus, this precision in the billing procedure enhances the transparency between the tenant and the owner, which, in turn, is expected to fuel the market growth over the forecast period. , Furthermore, automated billing software helps users in getting over cumbersome spreadsheets and gain a streamlined error-free billing process. Moreover, the Internet of Things (IoT) based meter reading is competent in incorporating either with existing infrastructure or installed IoT hardware to extract data from tenant meters. Additionally, IoT allows to control the energy usage practices and monitor patterns of the occupant’s expenses. This forecasting practice further helps consumers in their budgeting. , Deployment Insights , The cloud segment accounted for the largest share of more than 65.0% in 2019. Cloud-based tenant billing software activities are opening up as an emerging trend in the billing market as the data collected by the software can be stored in the cloud, which is accessible to all departments. Moreover, increasing adoption among small, medium, and large enterprises is boosting the demand for cloud-based billing software in the market. , The cloud-based software enables facility management companies, commercial property owners, or other sub tenanted property clients to store various supplier contracts against subtenant meters. This information then can be used to automatically generate an occupant’s bill based on energy usage over an annual, monthly or four-week basis. Besides, it saves property managers’ indirect costs of money recovery and fewer disputes with tenants as well as direct costs included in automating a labor-intensive procedure. , The on-premise deployment segment is anticipated to witness considerable growth over the forecast period. The growth is attributed to the associated benefits such as easy integration with the enterprise's existing IT infrastructure and a high level of data security than a cloud-based billing software. On-premise billing software offers ownership and control over hardware, data, and software platform. The above-mentioned benefits of on-premise deployment software are contributing to the growth of the on-premise deployment segment over the forecast period. , Application Insights , In terms of application, the tenant billing software market has been classified into commercial and residential. The residential segment accounted for the largest share of more than 55.0% in 2019. Tenant billing software helps property owners to manage tenant information, property information, lease information, resident subscriptions, owner information, and their history. Moreover, using multiple billing solutions help in generating bills automatically and delivering them via email or getting them printed for posting. , The commercial segment is anticipated to be the fastest-growing segment over the forecast period. The growth is ascribed to various factors including an increasing number of retail stores, hotels, business buildings, airports, and industrial sites as well as improvement in IT infrastructure. Furthermore, commercial tenant billing software eliminates manual billing and increases administrative productivity. , Regional Insights , North America accounted for the largest share of over 25.0% in 2019. The growth is attributed to the large-scale adoption of cloud-based tenant billing software by enterprises of all sizes and growing smart grid hospitality and real estate industry in the region. Europe accounted for the second-largest share of more than 20.0% in 2019. The growth can be attributed to the rising presence of a large number of commercial and residential buildings, along with a high degree of digitalization in the region. , Asia Pacific is anticipated to witness the fastest growth during the forecast period. Factors such as government regulations, rising cloud-based solutions, growing population, and increasing need to focus on customer relationship management are the key factors assisting the market growth in the region. Besides, technological advancements such as Artificial Intelligence (AI) and machine learning are expected to increase the adoption of tenant billing software in the region. , Key Companies & Market Share Insights , Some of the prominent players in the market are Tenant billing software providers are focusing on new product development, product enhancement, and partnerships, which, in turn, would help to increase their market presence. For instance, in April 2019, TEAM (Energy Auditing Agency Ltd.) announced the development of its software portfolio with the launch of the next-generation Sigma Tenant Billing solution. This application will enable organizations to precisely and efficiently allocate utility costs between tenants, departments or cost centers delivering transparent accountable billing. Furthermore, this software will allow users to monitor and manage their tenant’s energy consumption through one system. , KEY MARKET SEGMENTS , By Deployment (Revenue, USD Million, 2016 - 2027) , Cloud , On-premise , By Application (Revenue, USD Million, 2016 - 2027) , Residential , Commercial , By Regional (Revenue, USD Million, 2016 - 2027) , North America , The U.S. , Canada , Europe , The U.K. , Germany , France , Spain , Asia Pacific , China , India , Japan , Latin America , Brazil , Mexico , Middle East & Africa , KEY PKAYERS , Delmon Solution , Commercial Water & Energy Co. , Honeywell International Inc. , Entronix Energy Management, Inc. , Enertiv , TEAM (Energy Auditing Agency Ltd.) , Accuenergy Ltd , MACH Energy , SystemsLink 2000 Ltd , Semsys , IOTomation Ecotech Pvt. Ltd.".
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.